Norsemont Reports Significant Copper, Lead & Zinc Values in Three Choquelimpie Drill Holes

VANCOUVER, BC / ACCESS Newswire / April 24, 2026 / Norsemont Mining Inc. (CSE:NOM)(OTCQX:NRRSF)(FWB:LXZ1) ("Norsemont" or the "Company") is pleased to announce over limit base-metal assay results (copper, lead and zinc) for three holes, which are contributing to target refinement for ongoing drilling. These encouraging base-metal results add to the geological understanding of the system and help refine targets for the ongoing diamond drill program at Choquelimpie, focused on testing higher-grade hydrothermal breccia targets at depth and supporting potential resource growth. Additional metallurgical and drill results are anticipated to be released shortly.

Highlights

• DD03: 24 meters averaging 0.95 g/t AuEq, plus 0.29% Cu

• Elevated lead: Multiple intersections of elevated lead values were intersected in all three holes

• Elevated zinc: Multiple intersections of elevated zinc values were also intersected in all three holes

• Highest-grade intercepts:

  • DD01: 4 Meters of elevated AuEq 2.85 g/t, plus 3.23% Pb and 11.90% Zn

  • DD02: 29 Meters of 1.89 g/t AuEq

Management Comments

Norsemont CEO Marc Levy commented:

"We are pleased with the positive gold and elevated base metal results from the first three holes of the 2025 Phase 3 drill program. These long gold equivalent intercepts are above the current sulfide resource grade, highlighting the potential to upgrade the resource volume and average grade. We are also encouraged by the geological team's growing understanding of the controls on higher-grade mineralization. The data indicates the potential for a porphyry system. The presence of the elevated base-metal mineralization is particularly intriguing, and we look forward to receiving further re-assay results and integrating those data into the broader Choquelimpie geological model. These significant results add to our increasing confidence in the potential for substantial high-grade gold zones at depth and along strike beneath the existing open-pit resource."

The Phase 3 Drill Program

Choquelimpie drill samples have been analyzed for silver, copper, lead and zinc using the Inductively Coupled Plasma (ICP) analytical method. Initial assay values for some samples were reported as "over-limit," meaning the ICP method is not accurate above a stated maximum concentration. These samples have been re-assayed by atomic absorption spectrometry (AA), a method which is accurate at the higher concentration levels. The AA results have been received for much of the Phase 3 (2025) drilling, with distinct zones of silver-lead-zinc, lead-zinc and copper mineralization being intersected. Continuous base-metal intercepts, along with the corresponding gold and silver concentrations, are summarized in Table 1. The primary gold intercepts, previously reported in a Norsemont press release dated 24 February 2026, are also included. Gold-equivalent (AuEq) values are now also reported (Table 1).

Table 1

Note: true thicknesses of mineralization are unknown

Base-metal values are low for the DD-01 (Vizcacha Zone) primary gold intercept (0-109 meters depth). However, an intercept of silver-lead-zinc mineralization is present further down the hole (130 - 180 meters). Gold, within this interval, is also elevated (1.40 g/t) at 165 - 169 meters.

Base metal values are also low for the DD-02 (Vizcacha Zone) primary gold intercept (0-94 meters depth). Zones for each of Ag-Pb-Zn (211 - 219 meters depth) and Pb-Zn (230 - 238 meters depth) mineralization have been intersected by the hole.

Anomalous copper mineralization (0.21% average) is coincident with the upper gold intercept for DD-03 (Choque Zone). In addition, primarily Pb-Zn mineralization has been intersected at downhole depths of 80 - 87 and 119 - 143 meters.

The mineralogical relationship between the precious- and base-metal mineralization will be assessed as part of metallurgical studies planned to be conducted on sulfide materials later in 2026. The three-dimensional spatial relationships between the various mineral intercept types will also be analyzed once additional data has been received. The results of these studies, in conjunction with geological and geophysical information, should provide important data points to aid in interpretation of the evolution of the Choquelimpie hydrothermal mineralizing system.

The Phase 3 drill campaign at Choquelimpie has successfully evaluated the down-dip extensions of higher-grade gold mineralization (>1 gram/tonne Au) hosted within hydrothermal breccia zones (Figure 1). Seven (7) core holes, totaling approximately 1650 meters have been completed. Details of this program are shown on Figure 1 and Table 2.

Figure 1: Phase 3 Drill Hole Location Map

Table 2: Phase 3 Drill Hole Collar File

All split drill core samples for the drilling have been shipped to Activation Geological Services SpA for geochemical analysis. The samples have been prepared at the AGS facility in Antofagasta Chile and are being analyzed at the AGS geochemical laboratory, in Coquimbo, Chile. The laboratory has an ISO 17025 certification. The gold grades are being determined by fire assay (AGS code AU-FA30). Drill intervals that have some degree of oxidation are also being analyzed by the cyanide-soluble gold method (AUCN).

Samples have also been analyzed for 60 elements, including silver, by mass spectrometer (MS TD60). In addition, silver and specific base metals have been re-assayed by atomic absorption (AGS code 4ACID-AAS) for samples where the initial value for a particular element is greater than the limit of accuracy ("over-limit") for that method. The overlimit value for: silver (Ag) is 100 parts per million (ppm), copper (Cu) is 10,000 ppm, lead (Pb) is 5,000 ppm, and zinc (Zn) is 10,000 ppm.

Examination of Norsemont's 2021 core drilling assay results has determined that values for multiple individual samples from that program have also been reported with over-limit values. These samples, where material remains available, will also be re-assayed according to the protocols being utilized for the Phase 3 drill program.

Standard and blank samples have been inserted at a frequency of one each for every 20 drill samples.

Gold-equivalent (AuEq) values have also been calculated according to the following formula: AuEq (g/t) = Au (g/t) + Ag (g/t) * Ag price/Au price * Ag recovery/Au recovery; where Au price = USD 4,000/oz, Ag price = USD 62/oz, Au rec = 88%, and Ag rec = 87% (recoveries based on historical flotation test results).

The Phase 3 exploration program was supervised by Roman Flores, a Persona Calificada (Q.P.) with the Commission Minera Chile.

Marketing Contracts

The Company is also pleased to announce it has extended the service agreement dated January 9, 2026, with Native Ads Inc. ("Native Ads"), of 244 Fifth Avenue, Suite N-249, New York, NY 10001, USA (1-877-773-3540), to provide investor awareness and promotional services, subject to approval by the Canadian Securities Exchange (the "CSE"). The campaign which commenced in the first quarter of 2026 will continue for up to 12 months, or until the approved budget is fully expended. The principal of Native Ads is Jon Malach.

Under the Agreement, Native Ads will conduct a digital media and content distribution campaign intended to increase awareness and understanding of the Company and its efforts. The campaign will include digital advertising across search engines, financial publications, and financial websites. The Company has approved a budget of up to US$200,000 for these services.

The Agreement contains no performance-based factors, and Native Ads will not receive any equity as compensation. Native Ads and the Company are unrelated and unaffiliated entities, and at the time of the Agreement, neither Native Ads nor its principals hold any direct or indirect interest in the securities of the Company.

The contact information for Native Ads is as follows:

244 Fifth Avenue, Suite N-249, New York, NY 10001
T: +1.877.773.3540
E: info@nativeads.com

References:

Wilson, S. E., 2025, NI 43-101 Technical Report for the Choquelimpie Au-Ag Project Region 1 Chile, 115p.

Qualified Person

David Flint, MSc, AIPG-CPG, and Chief Geologist of Norsemont Mining Inc.; a qualified person as defined in NI 43-101, has reviewed and approved the technical information in this press release.

On Behalf of the Board,

NORSEMONT MINING INC.

Marc Levy
CEO & Chairman

About Norsemont Mining Inc.

The Norsemont team comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through to bankable feasibility, with an indicated mineral resource estimate of 81.9 million tonnes at a gold grade of 0.66 g/t (1,731,000 gold ounces), and a silver grade of 12.6 g/t (33,233,000 silver ounces); and an inferred mineral resource of 25.3 million tonnes at a gold grade of 0.55 g/t (446,000 gold ounces) and a silver grade of 8.9 g/t (7,219,000 silver ounces) for its Choquelimpie Gold-Silver-Copper project. Norsemont Mining owns a 100% interest in the Choquelimpie gold-silver-copper project in northern Chile, a past producing gold and silver mine with significant exploration upside. Choquelimpie has over 1,710 drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day mill. Norsemont is committed to responsible and sustainable resource development, leveraging modern exploration techniques to unlock further value for all stakeholders.

For more information, please contact the Company at: psearle@norsemont.com
Investor Relations: Paul Searle (778) 240-7724

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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the Offering and entry into the marketing agreements.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the Company not receiving the necessary regulatory approvals in respect of the Offering and marketing agreements contemplated herein and, with respect to the Offering, risks adverse to the capital markets, the mining industry, and investor support. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive the necessary regulatory approvals and receive market interest to close the Offering on the terms herein.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, except as required by applicable securities laws.

SOURCE: Norsemont Mining, Inc.